Investor Ideas #Potcasts 516, #Cannabis News and #Stocks on the Move; (TSX: $HEXO.TO) (NYSE: $HEXO) (OTCQX: $INLB) (CSE: $TRUL.C) (CSE: $AGRA.C)
Delta, Kelowna, BC, January 13, 2020 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2021/011321-StocksToWatch.mp3
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at https://www.investorideas.com/news/2021/cannabis-potcasts/01131HEXO-INLB-TRUL-AGRA.asp
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Today’s podcast overview/transcript:
Good
afternoon and welcome to another episode of Investorideas.com
"Potcast" featuring cannabis news, stocks to watch as well as
insights from thought leaders and experts.
In
today’s podcast we will be looking at a few public company announcements.
Truss
CBD USA,
a joint venture between HEXO Corp (TSX: HEXO) (NYSE: HEXO) and Molson Coors Beverage Company (NYSE: TAP), today announced the U.S. launch of VeryvellTM,
a new line of non-alcoholic, sparkling CBD beverages, exclusively available in
Colorado.
VeryvellTM is a
hemp-derived, adaptogenic, sparkling CBD water now available to Colorado-based
consumers in three flavours: Focus (Grapefruit Tarragon), Mind & Body (Strawberry
Hibiscus) and Unwind (Blueberry Lavender). VeryvellTM is Powered by
HEXOTM, the recognized quality and innovation behind award-winning
products.
“We are excited to launch VeryvellTM
in Colorado through Truss CBD USA, in collaboration with our partner, Molson
Coors. Our joint venture with Molson Coors Canada saw Truss Beverage Brands
become the number one choice for consumers in Canada and we are expecting
similarly great results in the US.” said HEXO CEO and co-founder Sebastien
St-Louis. “We have near-term plans to invest additional capital in the USA to
support Truss CBD USA and to further execute on our Powered by HEXOTM
strategy with other potential CPG partners, outside of beverages, with whom we
are currently in ongoing negotiations.”
VeryvellTM is produced
and distributed within Colorado state lines following the state’s established
regulatory framework for hemp-derived CBD in food and beverages and is
exclusively distributed by Coors Distributing Company. Truss CBD USA is
distinct from Truss Beverages, Molson Coors and HEXO’s joint venture in Canada
that focuses on non-alcoholic, cannabis-infused beverages.
Item
9 Labs Corp. (OTCQX: INLB), a vertically integrated cannabis
operator that produces premium products, today reported the Company's operating and
financial results for the fiscal year (FY) ended September 30, 2020.
Key
Financial Highlights for FY 2020
● Revenue
increased 65% to $8.1 million
● Gross
profit increased 39% to $3.3 million
● Operating
loss decreased 46% to $5.4 million
● Operating
expenses as a percentage of gross profit declined from 526% to 265%
● Adjusted
EBITDA loss decreased 9% to $2.1 million
Key
Business Highlights for FY 2020
● Ramped
up cultivation and production operations
● Continued
to improve the operating capacity of cultivation and processing facilities
● Signed
definitive merger agreement with ONE Cannabis Group
● Named
Mike (Mic) Keskey, retired former President of U.S. Retail for Best Buy Co.,
Inc. (NYSE: BBY),
and Doug Bowden, a 30-year consumer electronics veteran with extensive
experience in real estate investment and development, to Board of Directors
● Appointed
Andrew Bowden as Chief Executive Officer
● Earned
one Errl Cup and four 710 Degree Cup awards, Arizona's largest cannabis
competitions
● Qualified
to trade on OTCQX Market (upgraded from OTC Pink to OTCQB, then from OTCQB to
OTCQX, both in August)
"This past year has been an
exciting and successful time for our team," commented Item 9 Labs Chief
Executive Officer Andrew Bowden. "We've seen strong, steady performance
with sequential quarter-over-quarter growth rates of nearly 20% since my
appointment as CEO at the start of our 2020 fiscal year. Our team continues to
exceed expectations and has efficiently ramped production to meet heightened
demand for our products, setting the stage for key strategic and operational
developments in 2021. We anticipate increased business activities as we
continue to pursue opportunities that position the company for growth and
profitability."
Bowden continued, "We are still
in the early stages of our growth and are already seeing an acceleration with
Arizona's adult-use marijuana market opening in the first half of 2021, which
we estimate will increase our consumer base by 500%. We're prepared to meet
this demand through our streamlined production process and by expanding our
operational cultivation footprint by more than 300% in the year ahead."
"In addition to continued
growth in Arizona, we look forward to closing our pending merger with ONE
Cannabis Group and their cannabis franchise, Unity Rd. We expect the
combination of our premium, award-winning cannabis products with the nation's
leading dispensary franchise will elevate our brand footprint through national
distribution across Unity Rd.'s locally owned and operated dispensaries. This
will ease new market product entry and create recurring revenue streams through
franchise royalty fees," Bowden concluded.
Trulieve
Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing
cannabis company based in the United States, announced today the opening of a brand-new
Florida dispensary, the Company's 76th nationwide. The new, 6,000 sq. ft.
location marks the Company's 2nd in Gainesville, broadening patient access to
Florida's largest and broadest assortment of medical cannabis products.
The new dispensary also supports
Trulieve's goal of expanding and ensuring direct, reliable access to medical
cannabis across its home state of Florida. It joins the Company's 70 other
dispensaries statewide, including the original Gainesville location and those
in nearby Ocala and Lake City.
"2020 presented challenges, but
Trulieve focused on patient-driven customer service and organic growth to
ensure access and product innovation, and that's what our continued focus will
be for 2021," said Trulieve CEO Kim Rivers. "We look forward to
building relationships with our Truliever community in Gainesville for many
years to come."
In honor of the Company's brand-new
dispensary, all patients — from those new to Trulieve to the dedicated
Truliever community — will be eligible for a 25% in-store discount at the new
College Park location on opening day. In line with policies adopted statewide,
all visitors are required to wear masks for the duration of their dispensary
visit. Additionally, only patients and their state-approved caregivers will be
allowed inside the waiting room and dispensary at this time.
In stores and online, patients will
find Florida's largest selection of THC and CBD products in a variety of
delivery methods, including edibles, smokable cannabis, concentrates,
tinctures, topical creams, vaporizers, and more. Trulieve also offers home
delivery statewide for patients and convenient in-store pickup at each of its
71 dispensaries in Florida.
To assist patients with ordering,
Trulieve has made our entire catalog of products available for online ordering,
with in-store pickup and statewide home delivery options available. In
addition, patients can schedule a complimentary 30-minute virtual consultation
with a Trulieve certified consultant to help navigate questions on products,
devices, or to review their doctor's recommendation.
Furthermore, to assist with CDC
recommendations for social distancing and in compliance with additional
company-enforced safety guidelines, several measures have been taken to ensure
the health and well-being of employees and patients, including modifications to
the layout of all stores, installation of plexiglass partitions and HEPA air
filtration scrubbers in every dispensary, increasing access to masks and
sanitizer throughout the store for staff and visitors, utilizing visual aids to
direct traffic throughout the store, and increasing the frequency of deep
cleanings for all dispensaries.
Trulieve is closely monitoring the
coronavirus situation and will update store policies as needed to ensure the
highest level of safety of our patients and staff. All updates will be shared
directly on Trulieve's website as they are enacted.
The Office of Medical Marijuana Use
recently announced the registry has surpassed 460,000 registered medical
marijuana patients with an active ID card, with Trulieve consistently selling
approximately half of the state's overall volume per the Florida Department of
Health. To support the state's rapidly growing patient base, there are more
than 2,700 registered ordering physicians in the State of Florida.
AgraFlora
Organics International Inc. (CSE: AGRA) (OTC: AGFAF) announced an update on the Company’s entrance
to the edibles market with the completion of the first phase of R&D trials
at its Health Canada licensed 51,000-Square-foot fully-automated edibles
manufacturing facility in Winnipeg, Manitoba (the “Edibles Facility”).
Prior to receiving a standard
processing license from Health Canada, AGRA commenced (See press release dated
August 27, 2020) cultivating long-term production relationships through
Research and Development (“R&D”) trials utilizing the Company’s Health
Canada R&D license. The development phase of the R&D trials is now
complete and the company has created efficient processes for desired
formulations and product varieties and expects to enter the edibles market in
Q1 of 2021.
James Fletcher, EIC Co-Founder and
Operational Manager stated, “Supply contracts continue to move forward with our
Licensed Producer relationships, and we are confident that our gummies with
consistent and flavourful variants will soon dominate the gummies category. Our
family’s 97 years of confectionary experience provides us a solid culture of
quality, craftmanship and efficiency to offer a variety of infused gummy
products to multiple LP clients at a time.”
“The Company believes that their
infused cannabis activated pectin and gelatin gummies variants are well timed
given the strength of demand for consistent, quality and tasty gummy products.
A recent OCS report showed the gummy category carried the highest market share
in the edibles segment compared to chocolate and brownie alternatives at 65%
with demand expected to continue to rise.” Commented the Agraflora Board of
Directors.
The Edibles Facility will utilize
its current state of the art laboratory set up to produce approximately 60,000
pieces per eight-hour shift and can manage a variety of brands at once given
the efficient nature of the automated production line. The facility’s equipment
and design allow EIC to easily pivot and provide specific dosing and custom
gummies that meet regulatory requirements and customer specifications. These
efficiencies also allow AgraFlora to produce saleable products at a lower cost.
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